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Questions and Answers
What is the main objective of the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components?
When was the PLI Scheme for Automobiles and Auto Components launched?
What is the budgetary outlay for the PLI Scheme for Automobiles and Auto Components?
Who are the beneficiaries of the PLI Scheme for Automobiles and Auto Components?
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Under the PLI Scheme, what are the two parts of the scheme mentioned?
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When will the incentive under the PLI Scheme be applicable for 5 consecutive financial years?
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What happens if an approved company fails to meet the sales threshold in the first year under the PLI Scheme?
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Until which fiscal year can an approved applicant avail benefits under the PLI Scheme for Automobiles and Auto Components?
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Which of the following is NOT an objective of the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components?
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Which fiscal year marks the end of the eligibility period for benefits under the PLI Scheme for Automobiles and Auto Components?
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What type of vehicles are eligible under the Champion OEM part of the PLI Scheme for Automobiles and Auto Components?
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What action will be taken if an approved company fails to meet the threshold for an increase in sales in the first year under the PLI Scheme?
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What is the minimum number of years an approved applicant can avail benefits under the PLI Scheme for Automobiles and Auto Components?
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Study Notes
- Ministry of Heavy Industries announced extensions and amendments to the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components
- Objectives include boosting domestic manufacturing of advanced automotive technology products, attracting investments, overcoming cost disabilities, creating economies of scale, and building a robust supply chain
- The scheme was launched in 2021 with a budgetary outlay of Rs. 25,938 crores and targets both existing automotive companies and new investors
- The scheme consists of two parts: Champion OEM for electric or hydrogen-powered vehicles, and Component Champions for high-value and high-tech components
- Recent amendments include the extension of the incentive for 5 consecutive financial years starting from FY 2023-24, with disbursement in FY 2024-25, and eligibility for benefits until FY ending on March 31, 2028; companies failing to meet sales increase threshold in the first year will not receive incentives
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Description
Learn about the Ministry of Heavy Industries' Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components, including recent announcements such as extending the scheme's tenure by 1 year and making partial amendments. Explore the objectives of the scheme in boosting domestic manufacturing of advanced automotive technology products and attracting investments in the automotive manufacturing value chain.
